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Apollo Global Stock Price Doesn’t Budge with NextEra Energy Funding

Updated: 22 Oct 2021

Apollo Global (NYSE: APO) stock shifted underwhelmingly in Friday premarket trading, topping out at 1% before retracing; Apollo Global stock is currently trading at $77.26. In the latest string of Apollo achievements, affiliate funding (Apollo Funds) has been granted for NextEra Energy Partners – reaching an equity agreement of $824 million for the further financing of NextEra’s solar and wind assets. 

The move from Apollo is the latest green investment to bolster companies supporting the clean energy transition. As lucrative as it is sustainable, more and more funds are making a popular habit of adding clean energy benefactors to their eager portfolios – not only backing global awareness but also ensuring stakeholders can be exposed to the full potential of the clean energy market boom. Clean energy investments are all the buzz at the moment, with hydrogen-based initiatives attracting firm backing

The ‘convertible equity portfolio’ consists of 13 wind and solar assets spread across the diversity of the US power market – three of which are also compatible with battery storage. Known as one of the globally dominant renewable energy producers paving the way for the future of clean industries, NextEra’s renowned asset management skills will underline Apollo’s wider consensus for partnering with progressive companies active in the clean energy transition.

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However, this announcement didn’t cause much of a stir in the context of Apollo’s last week – with the stock soaring almost 15% over the last few days. This can be attributed to the bold remarks made by Apollo earlier this week, with the company aiming to double its assets to $1 trillion over the next 5 years. 

Based on Apollo’s year-on-year growth of over 115% percent (should they meet their next earnings expectations of $1.09 per share), the company’s ambition isn’t unwarranted. With an increasing part to play in the financing of clean energy, we can expect to see a lot more transition-focused investment – a burgeoning sector definitely worth your attention.

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